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Weekly forecast Australian Dollar / New Zealand Dollar technical chart
Symbol AUDNZD

Download MT4 template file

Trade Setup
#AUDNZD
Total Profit: 1243 pip
Closed trade(s): 172 pip Profit
Open trade(s): 1071 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 1.0771 (day close price) based on 'Peak' at 2020.06.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 1.0735 touched at 2020.06.04 with 36 pip Profit.
TP2 @ 1.0635 touched at 2020.06.11 with 136 pip Profit.
36 + 136 = 172 pip

Open Profit:
Profit for one trade is 1.0771(open price) - 1.0617(current price) = 153 pip
7 trade(s) still open, therefore total profit for open trade(s) is 153 x 7 = 1071 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.0735 is broken, we will close open trades.

DateJuly 4, 2020 - 18:38
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 1.0735, beginning of downtrend is expected.
  • We make sure when the support at 1.0570 breaks.
  • If the resistance at 1.0735 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.0735 is broken.

Technical analysis:

  • The RSI support #1 at 43 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 1.0755 on 06/24/2020, so more losses minimum to Major Support (1.0570) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 1.0735
  2. 1.0635
  3. 1.0570
  4. 1.0480
  5. 1.0360
  6. 1.0260
  7. 1.0155
  8. 1.0020
Click on the level to view price action history.